Financial Services News

PennyMac Financial Services Target of Unusually Large Options Trading (NYSE:PFSI)

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PennyMac Financial Services, Inc. (NYSE:PFSI – Get Rating) was the recipient of some unusual options trading on Tuesday. Traders bought 10,725 put options on the stock. This represents an increase of 678% compared to the typical daily volume of 1,379 put options.

Insider Activity at PennyMac Financial Services

In related news, Director Joseph F. Mazzella sold 13,000 shares of PennyMac Financial Services stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $54.87, for a total transaction of $713,310.00. Following the transaction, the director now directly owns 174,891 shares of the company’s stock, valued at $9,596,269.17. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other PennyMac Financial Services news, Director Joseph F. Mazzella sold 13,000 shares of PennyMac Financial Services stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $54.87, for a total transaction of $713,310.00. Following the transaction, the director now owns 174,891 shares of the company’s stock, valued at approximately $9,596,269.17. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph F. Mazzella sold 14,295 shares of PennyMac Financial Services stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $50.10, for a total value of $716,179.50. Following the sale, the director now owns 337,036 shares of the company’s stock, valued at $16,885,503.60. The disclosure for this sale can be found here. Insiders have sold a total of 85,941 shares of company stock worth $4,848,629 in the last three months. 18.00% of the stock is owned by company insiders.

Institutional Trading of PennyMac Financial Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC bought a new position in PennyMac Financial Services in the second quarter worth approximately $25,000. Point72 Hong Kong Ltd purchased a new stake in PennyMac Financial Services in the 4th quarter worth $58,000. Ensign Peak Advisors Inc bought a new position in PennyMac Financial Services during the fourth quarter valued at approximately $120,000. Captrust Financial Advisors grew its holdings in shares of PennyMac Financial Services by 75.9% in the second quarter. Captrust Financial Advisors now owns 2,890 shares of the real estate investment trust’s stock valued at $126,000 after purchasing an additional 1,247 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of PennyMac Financial Services by 19.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,932 shares of the real estate investment trust’s stock valued at $156,000 after buying an additional 486 shares in the last quarter. 61.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on PFSI shares. JMP Securities lowered their price target on shares of PennyMac Financial Services from $75.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, May 25th. Piper Sandler cut their price objective on shares of PennyMac Financial Services from $82.00 to $79.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 28th. Finally, Barclays reduced their price target on PennyMac Financial Services from $90.00 to $73.00 and set an “overweight” rating for the company in a research report on Monday, July 11th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.60.

PennyMac Financial Services Trading Down 4.3 %

Shares of NYSE:PFSI traded down $2.33 during trading on Tuesday, reaching $51.74. The stock had a trading volume of 11,355 shares, compared to its average volume of 292,304. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of 4.58 and a beta of 1.29. The firm’s fifty day moving average is $53.88 and its 200 day moving average is $50.62. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.63 and a current ratio of 0.63. PennyMac Financial Services has a 52 week low of $38.53 and a 52 week high of $71.52.

PennyMac Financial Services (NYSE:PFSI – Get Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $1.06. PennyMac Financial Services had a net margin of 27.37% and a return on equity of 23.04%. The business had revenue of $511.52 million during the quarter, compared to the consensus estimate of $475.70 million. As a group, equities analysts forecast that PennyMac Financial Services will post 7.62 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Tuesday, August 16th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, August 15th. This represents a $0.80 annualized dividend and a yield of 1.55%. PennyMac Financial Services’s payout ratio is currently 6.77%.

About PennyMac Financial Services

(Get Rating)

PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. It operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.

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